Germany and Japan are the top foreign investors in the Philippines from January to September this year, a Cabinet official said.
Trade Undersecretary Ceferino Rodolfo said Germany has the biggest investment pledges with 80 percent of the P427-billion foreign investments in the first nine months of the year.
Japan was the second top investor during the same period, Rodolfo added.
"I would say 80 percent of the P427 billion have come from Germany. Pero marami pa iyang nasa pipeline ha, marami tayo ngayong nasa pipeline (But there are more projects in the pipeline), particularly for renewable energy projects," the Trade official said.
He added that foreign investors are seeing the Philippines as a good investment hub because of the government’s policy-related reforms and the further removal of the foreign equity restriction on renewable energy.
He further said the Philippines used to not be the "darling of European Union countries due to "some reasons."
"Pero ngayon nakikita natin that when the President has said, ‘we are open for business’ at saka nakikita naman nila iyong mga policy reforms dito sa Pilipinas, pumapasok na sila (But now, when the President said: we are open for business and they are seeing the policy reforms in the Philippines),” Rodolfo said.
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